Redevelopment of a site previously occupied by outdated cottages into three residential flats and two houses.
The Opportunity
The site originally consisted of older residential cottages, alongside additional land at the rear.
The initial strategy was to retain the front properties and develop new units at the rear. However, following further assessment, it became clear that a full redevelopment would deliver a stronger overall outcome.
The Challenge
The primary challenge for this project was the planning process.
- Initial proposals for higher-density development were rejected
- Alternative schemes were submitted and declined
- Multiple iterations were required to align with planning expectations
The process took several years and required persistence and adaptability to navigate changing requirements and decision-makers within the local authority.
The Approach
Following planning approval, the site was fully redeveloped:
- Existing buildings demolished
- New residential scheme constructed
- Final layout delivered as five flats
During the project, the strategy shifted in response to market conditions.
Originally intended as a build-to-sell development, the scheme transitioned to a build-to-rent model due to significant changes in the rental market.
Outcome
The completed development now forms part of the company’s long-term rental portfolio, with all units let.
The shift to rental has resulted in stronger long-term income performance compared to the original sales-based approach.
Value Created
- Full redevelopment of underperforming residential site
- Increased density aligned with planning requirements
- Adaptation to market conditions to maximise returns
- Creation of stable, income-generating assets